Tether Burns $1.8 Billion USDT in Single Ethereum Move, Raising Questions About Liquidity Management

A surprising move by Tether has sent shockwaves through the crypto market, with the company burning nearly $1.8 billion worth of USDT in a single transaction on the Ethereum blockchain. This action follows a similar event earlier this year where $2 billion was eliminated, adding up to $3.8 billion shaved from the circulating supply. Analysts and market observers are closely scrutinizing Tether’s explanations for these drastic removals, which are largely attributed to routine operational activities within the company’s Treasury wallet.